Subject: [cwj 102] Link-up for Japan shipbuilders
From: Corporate Watch in Japanese <cwj@corpwatch.org>
Date: Wed, 13 Sep 2000 11:13:27 -0700
Seq: 102

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check out http://www.corpwatch-jp.org/intl/index.htm (IN JAPANESE ONLY)

Link-up for Japan shipbuilders
By Emiko Terazono in Tokyo
Financial Times
Published: September 12 2000 

Japanese shipbuilders Ishikawajima-Harima Heavy Industries, Kawasaki Heavy
Industries and Mitsui Engineering & Shipbuilding, said they were close to
finalising an agreement to integrate their commercial shipbuilding
operations. 

Japan's shipbuilding industry is under pressure to consolidate because the
high yen is
eroding margins and competition from South Korea is intensifying. 

Korean shipbuilders have been blamed by competitors and their governments -
including the European Union - for offering cut throat prices and
depressing international shipbuilding price levels. 

The combined annual revenue of the shipbuilding operations of the three
companies is
expected to total over Y300bn ($2.8bn), surpassing that of Mitsubishi Heavy
Industries, the industry leader. 

The three companies declined to offer details, but they are reportedly
seeking an initial
alliance to consolidate supply procurement, orders and design. This could
be followed by the integration of the units into a joint venture. 

The move follows an agreement last September between Kawasaki Heavy and
Mitsui to
co-operate in procurement, design and technological development, and merge
their
information systems. Since then, the two companies have worked together in
a few
projects, including designing bulk carriers. 

The three-way alliance may expand to include Sumitomo Heavy Industries,
with which IHI is under negotiations to integrate their operations which
provide naval vessels to the Defence Agency. 

Among other leading Japanese shipbuilders, NKK and Hitachi Zosen have been
in talks to link their commercial shipbuilding operations since May.

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Corporate Watch in Japanese
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Tel: 1-415-561-6472
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Email: cwj@corpwatch.org
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